Edit in JSFiddle

$('.in img:gt(0)').hide();
setInterval(function() {
    $('.in :first-child').fadeOut().next('img').fadeIn().end().appendTo('.in');
}, 4500);

.in { position:relative; width:500px;  }
.in img { position:absolute; left:0; top:0; }

<div class="in">
  <img src="http://farm2.staticflickr.com/1175/618310494_c405a3453f.jpg">
  <img src="http://farm4.staticflickr.com/3204/3119223827_aa5f24d24b.jpg">
  <img src="http://farm2.staticflickr.com/1214/1112495518_4f78cbdb25.jpg">
</div>
<a href="http://www.flickr.com/photos/markjsebastian/">Photo by mark sebastian'</a>